Factom raises $140k in first day of crowdsale

Factom, the blockchain-based record-keeping network, began its crowdsale yesterday and has raised 579 BTC, or roughly $140,000, through the first day. The crowdsale was carried out on decentralized application platform Koinify that offered 2,000 Factoid tokens (FACTs) for every 1 BTC pledged by prospective customers.

David Johnston, Factom Foundation board chairman, said the fact that the project had sold more than 1m facts in the first day is an indicator of its success.

"I believe this first day of software sales for Factom shows there is strong interest in technology that is focused on scaling the blockchain and providing its features of transparency and honesty to whole new categories of businesses", Johnston told CoinDesk.